Tue, 19 Dec 2023 | BUSINESS NEWS
Apadmi, a digital products designer and developer headquartered in Manchester, has received private equity investment to support its global growth strategy. The minority investment from CBPE will support Apadmi's ambition to enter five new international markets by 2027 and generate continued organic growth in the UK.
CPBE will help finance Apadmi's future acquisitions of adjacent businesses, both in the UK and EU, whilst also supporting the company’s existing management team, led by founder and CEO Garry Partington, to capitalise on the firm’s rapid growth by developing its services and expanding client relationships.
Apadmi, which was founded in 2009, specialises in mobile and creates products for a client base that includes several high-profile UK brands. The company has delivered services for organisations including the NHS, BBC, Co-op, Sykes Cottages and Dominos among others.
Over the past three years, the firm has doubled in size, growing its team to 260 and offering a full range of digital product services, including design, strategy, mobile, back and front end development, as well as maintenance, ongoing support and optimisation.
As part of the company’s growth strategy, it has sought to develop its specialisms in retail, utilities, financial services, health and customer loyalty. Last year, the firm acquired Amsterdam-based The Mobile Company, representing the first step of its ambition to expand into five new markets by 2027.
The CBPE investment was led by partner Jolyon Latimer of the firm’s Investment Committee, who commented: "We are delighted to be backing Apadmi. The team are leaders in a digital product market that is set to double in the next four years.”
Latimer continued: "Garry and his partners have created a people-first culture that attracts and retains amazing talent, and the value that they are creating for clients in the UK has already established long-term relationships with innovative, blue-chip brands."
"The opportunity to expand in the UK and build on their European presence is huge. Apadmi is incredibly well placed to continue its growth and to scale into new services and territories and we’re excited to join them on their journey."
Apadmi founder and CEO Garry Partington said: "There's never been a better time to be in mobile. The products that we are creating today are already driving huge value for our clients. Their app customers are more loyal than non-app customers - they engage more frequently and spend more. What were once functional tools are now the highest performing channel in their business."
Find out more about the forms of financing available to businesses looking to grow through acquisitions
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